Best Buy Co., Inc. $BBY Holdings Lifted by Ceredex Value Advisors LLC

Key Points

• Ceredex Value Advisors LLC increased its stake in Best Buy by 9.7%, owning 244,150 shares valued at approximately $17.97 million as of the end of the first quarter.
• Best Buy's share price is currently $74.30, with a market capitalization of $15.70 billion and a P/E ratio of 18.17.
• The company recently declared a quarterly dividend of $0.95 per share, indicating an annualized yield of 5.1% and a payout ratio of 92.91%.

Ceredex Value Advisors LLC grew its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 244,150 shares of the technology retailer's stock after buying an additional 21,650 shares during the period. Ceredex Value Advisors LLC owned 0.12% of Best Buy worth $17,972,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BBY. LRI Investments LLC raised its position in shares of Best Buy by 36.3% during the fourth quarter. LRI Investments LLC now owns 529 shares of the technology retailer's stock valued at $45,000 after buying an additional 141 shares during the last quarter. Prosperity Consulting Group LLC boosted its position in shares of Best Buy by 6.4% in the fourth quarter. Prosperity Consulting Group LLC now owns 2,404 shares of the technology retailer's stock valued at $206,000 after acquiring an additional 145 shares during the period. Community Bank & Trust Waco Texas boosted its stake in shares of Best Buy by 0.5% during the first quarter. Community Bank & Trust Waco Texas now owns 30,970 shares of the technology retailer's stock valued at $2,280,000 after purchasing an additional 145 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Best Buy by 25.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 721 shares of the technology retailer's stock worth $53,000 after buying an additional 147 shares in the last quarter. Finally, HB Wealth Management LLC raised its position in Best Buy by 2.4% in the 1st quarter. HB Wealth Management LLC now owns 6,348 shares of the technology retailer's stock valued at $467,000 after buying an additional 149 shares during the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Best Buy news, Chairman Richard M. Schulze sold 729,201 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $72.95, for a total transaction of $53,195,212.95. Following the transaction, the chairman owned 196,100 shares in the company, valued at approximately $14,305,495. This represents a 78.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

BBY has been the subject of a number of research reports. Truist Financial increased their price target on Best Buy from $69.00 to $72.00 and gave the company a "hold" rating in a research note on Friday. JPMorgan Chase & Co. upped their price target on Best Buy from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Friday. UBS Group cut their price objective on Best Buy from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Guggenheim restated a "buy" rating and set a $90.00 target price on shares of Best Buy in a report on Friday. Finally, Evercore ISI boosted their price objective on shares of Best Buy from $75.00 to $77.00 and gave the company an "in-line" rating in a research report on Friday. Ten research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $84.44.

Best Buy Trading Up 1.3%

BBY traded up $0.93 on Friday, hitting $73.59. The company had a trading volume of 4,436,142 shares, compared to its average volume of 3,668,632. The company's fifty day moving average price is $69.70 and its 200 day moving average price is $71.56. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $103.71. The company has a current ratio of 1.02, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. The firm has a market cap of $15.55 billion, a P/E ratio of 17.99, a PEG ratio of 2.00 and a beta of 1.21.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.06. Best Buy had a return on equity of 46.40% and a net margin of 2.13%.The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.23 billion. During the same period last year, the company earned $1.34 EPS. The firm's quarterly revenue was up 1.6% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, equities analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $3.80 annualized dividend and a dividend yield of 5.2%. Best Buy's dividend payout ratio (DPR) is currently 92.91%.

Best Buy Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.